On November 14th, Dada Group (NASDAQ: DADA) released its third quarter 2024 performance report, which showed that after continuously focusing on high-quality development strategy, optimizing user experience, enriching supply, and strengthening mentality, Dada Group's business continued to grow with high quality and profitability continued to improve.
In the third quarter, the monthly average number of users and orders placed by JD.com on the JD.com app continued to grow rapidly, with year-on-year growth rates exceeding 100%. Among them, the growth of high-frequency users is even more rapid, and the number of high-quality high-frequency users in the JD App field has doubled year-on-year.
The penetration rate of "Instant Delivery" among JD users continues to increase month on month, providing more JD users with "Good Things for Enjoyment" services. During the just passed "Double 11" period, the daily peak of online order volume for instant delivery once again reached a historical high.
Data shows that Dada's delivery orders continue to maintain strong growth, with revenue for the first nine months of this year increasing by 46% year-on-year. In the third quarter, Dada Express continued to deepen its cooperation with chain merchants and improve the quality of its delivery services, with a year-on-year increase of 36% in total completed orders to 648 million orders. In the third quarter, the 30 day repurchase rate of users in the instant messaging section has significantly increased compared to the second quarter, and the 30 day repurchase rate of both new and old users has increased.
At the same time, through technology driven refined operations, continuous optimization of distribution routes, and dynamic adjustment of subsidy levels, Dada's price competitiveness has been further strengthened, promoting an increase in market share.
Overall, thanks to the continuous optimization of overall marketing and operational efficiency, Dada Group's Non GAAP net loss rate continued to narrow month on month in the third quarter, and its profitability is continuously improving.